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INDEPENDENT CONTRACTOR AGREEMENT

Independent Contractor Agreement

INDEPENDENT CONTRACTOR AGREEMENT You are currently viewing:
This Independent Contractor Agreement involves

One World Energy Corporation | Ralph Smith & Son, Inc

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Title: INDEPENDENT CONTRACTOR AGREEMENT
Governing Law: Pennsylvania     Date: 8/7/2007
Industry: CMPSRV     Sector: TECHNO

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INDEPENDENT CONTRACTOR AGREEMENT

THIS INDEPENDENT CONTRACTOR AGREEMENT (this "Agreement"), is made and entered into on this 31st day of July, 2007 (the "Effective Date"), by and between ONE WORLD ENERGY CORPORATION, a Nevada corporation, and RALPH SMITH & SON, INC., a Pennsylvania corporation.  As used in this Agreement, the term “OWEC” shall mean One World Energy Corporation, or an Applicable One World Affiliate (as defined below), as the context requires.  As used in this Agreement, the term “Independent Contractor” shall mean Ralph Smith & Son, Inc., or an Applicable Smith Affiliate (as defined below), as the context requires.

WHEREAS, OWEC and Independent Contractor have entered into a Contract Mining Agreement, dated as of July 31st, 2007 (the “Nowrytown No.1 Agreement”), pursuant to which OWEC agreed to retain Independent Contractor as the operator of the surface coal mining operation and related surface facilities located in Indiana County, Pennsylvania known as the “Nowrytown No.1 Mine”, and Independent Contractor agreed to perform the Work (as defined therein), subject to the terms and conditions set forth therein; and

WHEREAS, OWEC and Independent Contractor intend to enter into one or more additional contract mining agreements (each, an “Additional Agreement”), pursuant to which OWEC, or an affiliate of OWEC (the “Applicable One World Affiliate”), will retain Independent Contractor, or an affiliate of Independent Contractor (the “Applicable Smith Affiliate”), as an operator of a surface coal mining operation and related surface facilities (each, an “Additional Project”).

NOW, THEREFORE, in consideration of the strict and mutual performance and observance of the terms, conditions, covenants, and agreements hereinafter set forth, and intending to be legally bound, OWEC and Independent Contractor agree as follows:

Section 1—Net Profit. Under any Additional Agreement, Independent Contractor shall be entitled to forty percent (40%) of the Net Profit (as defined in the Nowrytown No.1 Agreement), including without limitation, expenses incurred under such Additional Agreement, debt service expenses and royalties, attributable to the Additional Project, during the term of such Additional Agreement.

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